If I have PAN Card so it is compulsory me to return file & my yearly income is 51000?

Answer 1

No need to file any return if your annual income falls below the exempted income for that particular financial year. That is variable depending on the category you falls in.
1. An Individual (Rs1,10,000/-)
2. A woman (Rs1,45,000/-)
3. A senior citizen. (Rs1,95,000/-) for the financial year 2007-08 as per latest budget. For earliar years it was different.
Accordingly the minimum exempted income varies every financial year.
However you have to compulsorly file I.T. Return, even if your total income is below the exempted limit, if you come under any one of the category of the following 5 groups.
1. If you own a house.
2. If you have a land line telephone connectioin.
3. If you own an automobile in your name.
4. if you a member of a club and contributing for the membership annually.
5. If you make a foreign travel or send somebody for a foreign travel with your money.

Answer 2

It does not mean that If you have PAN card you have to file return.
Sec 139 tells you about when to acquire the PAN card, but does not tell that you have to submit the ROI.
Anyhow your Annual income is Low and it comes under the maximum exemption limit so you need not have to file return or to any pay tax, your income don't come under the tax perview.
Maximum exemption limit for resident woman assessee not being a senior citizen is 135000
For resident senior citizen is 185000 and for every others it is 100000.

Answer 3

Since your income is below the laxable limit, you are not required to file a return of income under section 139. It is not mandatory for a PAN card holder to file a return. But if a person falls under tax net then ofcourse it is mandatory to have a PAN card.

Answer 4

If you do not have taxable income, you do not need to file return even if you have a PAN card. For financial year 2006-2007, exemption limit is Rs 1 lakh so you do not have taxable income and do not need to file return. However, if you have some tax deducted at source and need to claim refund, then return is necessary.

Answer 5

Everybody, who has a PAN, must file IT return even if his/her income doesn't come under taxable category.

That is the rule but even if do not file IT return, nobody cares because you income is too less to bother IT officials.

But if you file IT return, you will have other benefits like, you easily can get home loans, account opening will be easy etc.

Thanks

Answer 6

u hav mentioned tht ur yearly income is 51000. so in thiscase u no need to pay any tax to the government. if u r having PAN card also it is not compulsary to pay tax unless ur income is 1,10,001 and above per annum.

Answer 7

I know as it is compulsoraly
but you should checj more information on internet to get an exact reply to your question marks. And I have not much deep information about your question . All I know is this . So take care and I will go to and who knows may be one day we meet again and I answer your question in yahoo qna